Time Warner (TWX): Cutting Estimates Ahead Of Earnings
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Needham & Company analyst, Laura Martin, reiterated her Hold rating on shares of Time Warner (NYSE: TWX) and cut estimates ahead of earnings.
3Q16 estimates for TWX go to $7.016B in revenue (up 7% y/y and 2% below previous estimates), Adjusted Operating Income of $1.932B (up 5% y/y and 3% below previous estimates), and Adjusted EPS of $1.35 (up 8% y/y and 3% below previous estimates).
The earnings revisions relate to: (i) lower sub growth at HBO to reflect 1H16 growth rates and higher than previously estimated programming and other expenses at HBO; (ii) lower than previously estimated expenses at Turner; and (iii) difficult comparisons at Warner Brothers with 3Q15, which included TV and videogames syndication revenue.
The analyst does not have a published price target.
Shares of Time Warner closed at $78.57 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change
Related EntitiesNeedham & Company, Earnings
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